HSBC initiates 'Hold' on Lenskart, sees only ~2% upside despite 7,000-store plan
HSBC set a Rs 513 target on Lenskart, flagging full valuation even as India's largest eyewear firm targets ~7,000 stores from ~2,500 today. Bull case rests on ~20% organised eyewear share, 13% annual market growth and an integrated manufacturing-retail, omnichannel model.
HSBC initiated 'Hold' on Lenskart with Rs 513 target, citing full valuation despite strong fundamentals. India's largest eyewear firm plans expansion to ~7,000 stores from ~2,500, backed by integrated manufacturing-retail model and omnichannel approach.
Why this matters
The 'Hold' call follows multiple HSBC initiation signals flagging rich valuation despite Lenskart's 7,000-store runway, and comes amid its Rs 30,000-crore eyewear battle with Titan post-IPO.
Retail-company signals are accelerating, up +519400% QoQ.